I feel that something equally important as the strategy that one uses to trade with is the psychology. Trading (especially forex) is not an easy thing to do and it can be disheartening when losses occur. I wanted to give you something to look forward to so you know what’s required to become successful.

In the world of trading there are very few mistakes that can be a costly as the one I am going described to you in this article. This mistake can be so costly that I have personally seen it set traders back years and even end some careers. This is also a very common mistake as pretty much every trader I have ever talked to myself included myself. So then what is this common mistake that could be debilitating to your trading career? That’s simple; it’s called moving your stops.

So you have found a trading system that you believe will take your trading to the next level. You have heard others talk about it and the success it has brought them, so you are sure that it will for you. You completely scrap your current trading plan and prepare to start finally winning trades and turning a profit. Finally the big moment arrives and you take your first trade and you lose. So then you take another trade and you lose again. All of a sudden the system that you thought would change your life is shaping up to be a disappointment like all the others. You then decide that this new amazing system turned out to be all bark and no bite so you get rid of it and resume your hunt for the system that’s going to change everything. Does this sound like you? If it does then the systems may not be the problem after all. Maybe it’s you.

When most of us start out in the trading business we view it as the path to quick riches. We think that all we have to do is find a indicator, slap it on a chart and then voila we will be transformed into expert traders. This couldn’t be further than the truth, as it takes more than simply using the right indicator to have success. It takes hard work and dedication, but most of all it takes a plan.

The need for certainty

You want to know how to win and you want to know for certain that your strategy is going to work. But the market is an inherently uncertain phenomenon. You’ve probably already heard of the return that your strategy produces, or you’ve seen multiple examples of it in action by the instructor of the course you got—so why don’t you execute it with confidence and instead consider hopping to another system after a few losses?

Hello All,

Hello All,

Take Your Forex Trading To New Heights With This Amazing Technique. It’s Called An Inside Candle Breakout. An inside candle occurs when the body of a candle is contained entirely within the price action of the previous candle.

Forecasting currency movements longer term can be a dangerous (and potentially embarrassing) undertaking. Get the numbers right and you’re a hero and looked upon as a currency trading guru; wrong and you’re punished with “What were you thinking” comments, snipes, derisive statements or worse. So, what to do? Keep what info you’ve amassed to yourself and trade just managed accounts that no one but you and your clients will ever see? Or, put it out there to the rest of the trading world? Hummmm…….

The Forex Guy wrote about the patience that is needed for forex traders, and touched an interesting point – forex traders want to be free of their jobs and their bosses. I’m following up on this point. Here are the characteristics: